ESOMAR-certified consulting firm Future Market Insights’ (FMI’s) report forecasts the global industrial microbiology market to exhibit steady growth, surpassing a valuation of US$ 13,3072.73 Mn by 2021-end.
Growing application of industrial microbiology within pharmaceutical and food & beverage industry across China, the U.S., Germany and India will bolster the demand of industrial microbiology across the globe.
As per the FMI’s analysis, the industrial microbiology market across the U.S. and India is anticipated to expand at an impressive rate over the forecast period.
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Growing adoption of sterility and bio-burden testing within pharmaceutical industry will foster the sales of industrial microbiology products.
Increasing research and development activities along with the increasing drug development within biopharmaceutical industry across the U.S., France, and India will bolster the market growth in the upcoming decade.
Increasing applications in pharmaceutical excipients have encouraged the adoption of sterility and bio-burden testing for the quality testing of drugs and micro-organisms. However, dearth of skilled labor and high cost production is likely to hamper the growth of industrial microbiology.
Due to unprecedented outbreak of COVID-19, sales of industrial microbiology declined by 1.95%, exhibiting a CAGR at 4.95% during the forecast period.
Industrial Microbiology Market
However, with rising initiatives to reduce the pollution and improve the wastewater treatment efficiency, industrial microbiology market valuation will reach US$ 21,566.24 Mn by 2031.
Key Takeaways from FMI’s Industrial Microbiology Market Study
- Pharmaceutical industry is anticipated to be the primary end-user of industrial microbiology market
- Sterility testing is the most preferred test type among the key players backed by the increased application in pharmaceutical industry
- Increasing application of industrial microbiology in food & beverages is expected to foster the sales, especially across the U.S. and India
- In terms of product, reaction consumables is expected to lead the segment over the forecast period
- India is expected to emerge as a lucrative market owing to the expansion of healthcare industry and growing application in pharmaceutical industry
- Germany is anticipated to be the most lucrative country, accounting for over 31% of global market share
- China is anticipated to lead the East Asia’s market during the forecast period, registering a stellar growth during the assessment period
- The U.S. is estimated to be the largest market for industrial microbiology market attributed to the growing consumers demand and surge in adoption of sterility testing in pharmaceutical industry
Competitive Landscape
Future Market Insights, in its updated report, have profiled prominent players operating in industrial microbiology market which include Thermo Fisher Scientific Inc., Bio-Rad Laboratories, Inc., Becton, Dickinson and Company, Asiagel Corporation, Eppendorf AG, bioMérieux SA, Novamed., QIAGEN, Sartorius AG, 3M, Merck KGaA and Danaher Corporation among others.
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Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, the global financial capital, and has delivery centers in the U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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